Beef Products Incorporated announced this week that it plans to establish a $10 million fund for former employees of the company.
It was announced on Tuesday morning that the company's founder, the Roth family, plans to establish the fund to assist former employees of the company. In 2012, Beef Products, Inc. closed several of its plants, including a plant in Amarillo. The closures were estimated to affect about 750 employees of BPI.
Other plants closed by BPI in 2012 included a plant in Waterloo, Iowa and a plant in Garden City, Kansas.
"We remain committed to our employees and communities and so are dedicating $10 million to benefit the employees who lost their jobs in 2012," BPI founder Eldon Roth said in a recent news release, "While it took us longer to get here than we had hoped, we are pleased to finally be able to reconnect with those former employees and see what we can do to help them continue to recover."
The company, housed in Dakota Dunes, South Dakota, hosts a family of companies including Beef Products, Inc., BPI Technology, Inc. and Freezing Machines, Inc.
Notably, the company recently settled a five year lawsuit against ABC News regarding a media campaign targeting the company's product, Lean Finely Textured Beef. A settlement was announced on June 28th.